Local credit union employee arrested for depositing over $800,000 in fake checks

COLUMBUS, Ga. (WRBL) – A former Navy Federal Credit Union employee is facing fraud charges after investigators say he deposited more than $800,000 in fake checks for himself and other co-conspirators.

Columbus Police began investigating Steven Verrett in February.

CPD said Verrett used legitimate clients at his desk as a front while he cashed fake checks and took out fraudulent auto loans. Police say those funds were funneled to himself and several other co-conspirators.

According to police, the first five checks had a total value of over $800,000. They were reported stolen.

Further investigation revealed that at least eight NFCU accounts were involved in the fraud.

Verrett was arrested on Tuesday. He was taken to the Muscogee County Jail and charged with:

• Five counts of third-degree forgery
• Three cases of identity fraud
• Two cases of attempted criminal theft by deception
• Theft by deception
• Counterfeiting payment cards
• Computer intrusion
• Computer invasion of privacy
• Computer forgery

Additional charges are pending and police expect further arrests in connection with the fraud investigation.

Verrett is scheduled to appear in Recorder’s Court at 9 a.m. Friday.